Ontario · CCAA
Fourth Report of the Proposal Trustee
Court officer report · 27 May 2024
AI summary
A plain-English summary drawn only from this filing: what it is, why it matters, and the parties, amounts and dates it turns on.
What we verified from this filing7 verified
- cash on handnote: Closing cash balance as at May 17, 2024, compared to forecast $5.8 million · as at: 2024-05-17 · amount: 6912000 · currency: CAD · qualifier: approximately
- disbursementsnote: Total Disbursements for the Reporting Period (March 30, 2024 to May 10, 2024), table in $000's · since: March 30, 2024 · amount: 7578000 · currency: CAD
- operational summaryTBS Canada continues operating its Going Concern Stores while working through inventory replenishment following disruptions from the UK Parent's administration and the US affiliate's Chapter 7 proceeding, and is seeking a further stay extension to advance strategic alternatives for a going-concern outcome.
- professional feesnote: Actual disbursement of $472,000 vs forecast $819,000 for the Reporting Period; table figures in $000's · party: Restructuring Professional Fees (Company's legal counsel and the Proposal Trustee and its legal counsel) · amount: 472000 · period: March 30, 2024 to May 10, 2024 · currency: CAD
- receipts cumulativenote: Total Receipts for the Reporting Period (March 30, 2024 to May 10, 2024), table in $000's · since: March 30, 2024 · amount: 6489000 · currency: CAD
- report date27 May 2024
- report noFourth Report